Outlook 03/07: U.S. stock futures tick higher Thursday after the major averages posted their first winning session in three days. The market digested the reality that Powell was on board with respect to cutting rates this year. The question now becomes when, how often and how many cuts. During Wednesday’s testimony before the House Financial Services Committee, the central bank chair indicated that the policy rate is at its “peak for this tightening cycle,” but reinforced that the Fed is not ready to begin reducing rates. Investors will also monitor Powell’s appearance before the Senate Banking Committee on Thursday.
/ESH24 (MAR 2024): YVAH 5122 YPOC 5111 YVAL 5101 GAP 5112.50
/ES Plan: Yesterday market closed balanced, but overnight looks more bullish, moving above value, so these're the opening and initial balance options for today:
